Nominal farm wage rate up by 6.59pc in FY17

FE Online Report | Published: September 01, 2017 11:51:55 | Updated: October 19, 2017 22:07:47


Nominal wage rate of the agricultural sector in the country was increased by 6.59 per cent in the past fiscal year (FY17).

 

According to the latest estimate of the Bangladesh Bureau of Statistics (BBS), the annual agriculture wage index increased to 144.22 points at the end of the past fiscal year which was 132.48 points in FY16.

 

The rate of increment was, however, slightly lower compared to the previous fiscal year (FY16) when agricultural wage rate index jumped by 6.52 per cent over FY15.

 

The index was 124.51 per cent in FY15 when the nominal wage rate increased by 5.12 per cent.

 

The wage rate index is intended to measure the movement of nominal wages of low paid skilled and unskilled labour over time in different sectors of the economy. It is also used to measure changes in real wages.

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